High FCF High ROIC Portfolio $NVDA $ADBE $MA $LRCX $AMAT $FICO & $QCOM
LATEST FACTSHEET: JANUARY 2026 YTD: 3.3% Cash Return on Capital = 40% 5yr FCF per share CAGR = 26% The portfolio continues to be optimised for: (i) consistently high free cash flow per share growth rate, (ii) consistently high return on capital, and (iii) pricing power. Performance The top contributors to performance were $Lam Research(LRCX)$ and $Applied Materials(AMAT)$ . The top detractors from performance were $Fair Isaac(FICO)$ and ATOSS Software. Looking for oligopolies, with wide barriers to entry and strong network effects? That’s why I built the Global Compounders Database. $NVIDIA(NVDA)$
🎉29 US Stocks Hit New Highs: Exxon Leads the Tech and Commodities Uptrend
Hi Tigers~[Happy] On Wednesday's close(ET) , U.S. equity markets finished with mixed performance, $S&P 500(.SPX)$ ended essentially flat, edging down less than 0.1%. $Dow Jones(.DJI)$ ticked up modestly by around 0.02%. $NASDAQ(.IXIC)$ posted a small gain of around 0.2%. According to statistical analysis of TradingView data, 29 companies of the S&P 500 with market capitalizations exceeding 20 billion USD hit all-time highs. Overview of Market Drivers: Federal Reserve Holds Rates Steady: The Federal Reserve’s FOMC decision kept the federal funds rate in the 3.50%–3.75% range, pausing further reductions after several cuts in 2025. This was largely expected
Tech Giant in One Chart: Who Are the Key Suppliers of TSMC? $Taiwan Semiconductor Manufacturing(TSM)$ , the leader in semiconductor foundry, recently revealed plans to increase capital expenditure during its earnings call. This will broadly benefit the previously overlooked semiconductor equipment industry. Additionally, some material companies will benefit from the capacity shortage in the chip manufacturing supply chain. Based on TSMC's capital expenditure allocation, the relevant equipment companies are ranked as follows: Detailed Semiconductor Manufacturing Process and Related Companies Photolithography: Drawing Circuit Diagrams on Wafers Photolithography is the most complex and expensive step in chip
Weekly: US Stock Performance is Mixed, with Small Caps and the VIX Surging
Last Week's Recap1. The major U.S. indexes posted fractional declinesMajor Indexes: The $S&P 500(.SPX)$ saw fluctuations, closing at 6940.01, down slightly from the previous week's high of 6977.27. Sizzling small caps: A U.S. small-cap benchmark $iShares Russell 2000 ETF(IWM)$ outpaced its large-cap peers by a wide margin for the second week in a row, marking a sharp rotation from small caps’ lagging 2025 performance. Earnings kickoff: Analysts projected that financials sector earnings rose 6.6% in the fourth quarter—slightly below the 8.2% average gain that’s forecast across all 11 sectors in the S&P 500. Information technology is expected to post the strongest earnings growth, with consumer discr
The semiconductor industry is buzzing once more, with $Taiwan Semiconductor Manufacturing(TSM)$ delivering a blockbuster Q4 2025 earnings report that not only shattered expectations but also ignited a rally across the sector. Shares of TSMC surged over 4% in early trading, while $ASML Holding NV(ASML)$, a key supplier of chipmaking equipment, jumped as much as 7.6% to a record high, pushing its market capitalization above $500 billion for the first time. This enthusiasm stems from TSMC's robust results and optimistic outlook, underscoring the unrelenting demand for AI-driven chips and sending ripples through related stocks like $Lam Research(LRCX)$ and
TSM Leads Semi Surge! How Will Intel Close Next Week?
$Taiwan Semiconductor Manufacturing(TSM)$ delivered a blowout Q4 earnings report, beating expectations across revenue, margins and profits, and pushing the stock to new highs.📊 TSMC Q4 Highlights (Beat Across the Board)Revenue: TWD 1.05T (vs. 1.02T est.)Gross Margin: 62.3% (vs. 60.6%)Net Income: TWD 505.7B (vs. 475.2B)TSM has now climbed to become the 6th largest company globally by market cap.Revenue reached TWD 1.05 trillion, gross margin came in at 62.3%, and net income exceeded forecasts, lifting TSM into the position of the world’s 6th-largest company by market cap.Semiconductor Stocks JumpThe impact quickly spread across the semiconductor sector.$ASML Holding NV(ASML)$ saw its market cap break above
1. $ASML Holding NV(ASML)$ sits at the choke point TSMC just confirmed with rising EUV intensity keeping wafer supply constrained into 2028–292. $NVIDIA(NVDA)$ benefits from a true allocation economy where scarce advanced wafers sustain GPU pricing power & margins3. $Amkor Technology(AMKR)$ sits at the next bottleneck after wafers where advanced packaging turns scarce silicon into deployable AI systems4. $Applied Materials(AMAT)$ monetizes rising process intensity as hot fabs & advanced nodes drive more steps per wafer.5. $Advanced Micro Devices(AMD)$ gains from the same
Applied Materials, Inc. is a materials engineering solution company. The Company provides equipment, services and software to the semiconductor, display, and related industries. It operates in three segments: Semiconductor Systems, Applied Global Services (AGS), and Display. The Semiconductor systems segment designs, develops, manufactures and sells a range of primarily 300 mm equipment used to fabricate semiconductor chips, also referred to as integrated circuits (ICs). The AGS segment provides services, spares and factory automation software to customer fabrication plants globally. The AGS segment also manufactures and sells 200mm and other equipment. The Display segment is comprised primarily of products for manufacturing liquid crystal displays (LCDs), organic light-emitting diodes (OLEDs), and other display technologies for televisions, monitors, laptops, personal computers (PCs), tablets, smartphones, and other consumer-oriented devices.
2025-12-12
Annual Report
Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405]